Thursday, November 18, 2010

We Have Investors!

Oct 13th, 2010

I know I haven’t written. It’s not because my enthusiasm for this project has waned, it’s solely because I’ve been working doubles and I’m utterly exhausted most of the time when I finally get home to do anything. That does also mean, progress on the business has been a little slower than I’d like… until last week.

My awesome partner informed me that we had two prospective investors that would like to meet with us on Sunday and could I put together sales projections. I suddenly found all new time to hammer out projected sales for every scenario under the sun. Tossing around numbers like that and really realizing how much business you are going to have to do, is a little scary, it’s not that we won’t be able to make it work, keeping it self-perpetuating is no problem by the numbers, it’s cutting myself the paycheck that I would like to see that puts us really in deep.

Do I think we can do what I project? Yes I actually think we can do much better, but I looked at worst case, best case and most likely at the beginning. The “most likely” is definitely far above worst case scenario, and if we actually accomplish the best case scenario, we’d have to hire more people because we would both be working insane hours. That wouldn’t be a bad thing but I also look at best possible case as “not likely”.

So how did the meeting go? I had nothing prepared and besides getting mildly off track with wise classroom antidotes I think we had a pretty smooth and awesome presentation. And needless to say even though I didn’t have any prepared speech notes, I did have a big fat notebook backing me up. I felt that they felt secure about investing with us, and that it would be an excellent return for them. And that is a concern of mine. I wouldn’t want an investor who felt sketchy about handing us a wad of cash.A wad of cash indeed, my partner and I did internal and professional cartwheels as they threw out a number.

We are on our way, I believe it will be easier to get a couple more investors on board if we have people behind us already, it certainly makes me feel even more legitimate. So off to find a building and another pocketbook! YES!